What was the franchise fee revenue for Better Blend in the year ended December 31, 2023?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
keting expenses related to maximizing public recognition of the Company's brand and marketing fund.
Franchise fee revenue was approximately $2,600 for the year ended December 31, 2022. The initial franchise fees collected are determined on a franchisee-by-franchisee basis.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, the document does not state the franchise fee revenue for the year ended December 31, 2023. The document states that franchise fee revenue was approximately $2,600 for the year ended December 31, 2022.
It is important to note that the initial franchise fees collected are determined on a franchisee-by-franchisee basis. As of December 31, 2022, Better Blend had three franchisees under contract, but none were operational. By December 31, 2023, Better Blend had ten franchisees under contract, with four being operational.
A prospective franchisee should ask Better Blend's franchisor for the specific franchise fee revenue for the year ended December 31, 2023, to gain a clearer understanding of the company's financial performance and revenue streams.